Silvergate CEO Alan Lane to Depart as Bank’s Wind-Down Continues

Silvergate Capital Corp. Chief Executive Officer Alan Lane is resigning as the California lender that offered a preview of the problems lurking on bank balance sheets continues to wind down.

Lane and the company’s chief legal officer, John Bonino, will both depart effective Tuesday, while Chief Financial Officer Antonio Martino will leave on Sept. 30, the La Jolla-based bank said in a regulatory filing. None of the three will be entitled to further compensation, but “will receive certain severance benefits” provided to employees in the course of Silvergate’s liquidation.